Petroleum and metals pushed up prices for manufactured goods and raw materials in December, Statistics Canada reported today.

Prices charged by manufacturers, as measured by the Industrial Product Price Index (IPPI), were up 1.4% from November in conjunction with a significant increase in prices for petroleum and coal products, primary metal products, and motor vehicles, StatsCan said.

On a 12-month basis, the IPPI rose by 3.6%, a higher rate of growth than the year-over-year increase recorded between September and November. The upward pressure came mainly from higher prices for primary metal products, pulp and paper products as well as fruit, vegetables and feed products.

The Raw Materials Price Index (RMPI) was up by 5.2% from November to December, closing the year with two strong increases in a row. The increase was due to higher costs for mineral fuels, non-ferrous metals, animals and animal products, and vegetable products.

Compared to December of last year, raw materials cost factories 11.7% more, a significant change from the year-over-year increase of 4.7% recorded in November, StatsCan said.